Anglo Irish Bank? Good idea or bad idea?

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kennedst

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I have €100K which I want to put in a 6 month term deposit. I was thinking of Investec but they're only covered up to £50,000. Now I'm thinking of Anglo Irish but after all the bad press I don't know if this is such a wise move.

Any ideas folks???
 
Anglo is now a state bank,owned by all of us.......Ireland currently has a AAA rating or AA+ rating depending on which rating agency you go to,which means very little chance of it defaulting on debt,hence going on this logic Anglo is safe..And I am sure this has been discussed at length before on thses threads
 
kennedst said:
I have €100K which I want to put in a 6 month term deposit. I was thinking of Investec but they're only covered up to £50,000. Now I'm thinking of Anglo Irish but after all the bad press I don't know if this is such a wise move.

Any ideas folks???
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Why not Irish Nationwide? They have the best rate for a 6 month term deposit at 4.5%.
 
Fungus, given the rise in DIRT (saw somewhere else that interest earned on deposits is subject to Health Levy also- is this true?) are there any other possibilities for depositing money which may have a lower stated interest rate but, by maybe being exempt from DIRT, etc, may give a better return?
 
Anglo Irish Bank's Premium Demand Account is 4.75% on balances up to £100k. So, you're money's not locked away for 6 months, and you get a better rate.
 
No pudds they didn't. Fitch downgraded the sovereign rating for Ireland to AA+ with a negative outlook yesterday. Standard & Poors downgraded it earlier this month.

Several Irish banks though had their individual ratings downgraded yesterday and today by different agencies and Moodys did downgrade Bank Of Ireland and AIB to D on their bank financial strength ratings.
 
baldyman27 said:
Fungus, given the rise in DIRT (saw somewhere else that interest earned on deposits is subject to Health Levy also- is this true?) are there any other possibilities for depositing money which may have a lower stated interest rate but, by maybe being exempt from DIRT, etc, may give a better return?
Click to expand...

An post deposits are fee of DIRT.

However, even given this fact, the best rate for a 6 month term deposit is still Irish Nationwide at 4.50% for a 100K EUR deposit as per the OP query.
 
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